Covid Economic Relief Fraud—What Should You Know? (5/2/2021)

Описание: Covid Economic Relief Fraud—What Should You Know?

SITUATION
According to the DOJ, people have taken more than $80 billion in COVID-related relief loans under false pretenses. So, it should not surprise anyone that government investigations into COVID-related fraud are on the rise. In a recent press conference, Attorney General Merrick Garland reinforced the DOJ’s commitment to prosecute anyone “who would exploit a national emergency to steal taxpayer-funded resources."
In fact, The Project on Government Oversight (POGO) just published a detailed review titled Red Flags: The First Year of Covid Relief Fraud Cases. The review concludes that the government has just scratched the surface in identifying and prosecuting COVID relief fraud. According to reports, thousands of COVID-related loans are already flagged for further investigation.
So far, the DOJ Criminal Division has filed more than 125 fraud cases involving the PPP (Paycheck Protection Program) and the EIDL (Economic Injury Disaster Loan program). Of the $625 million that DOJ has seized or forfeited so far, about $445 million involves PPP or EIDL loan fraud.
Law enforcement observers agree that the rest of 2021 will bring a significant wave of criminal cases involving PPP and EIDL loan fraud. Civil enforcement will also play an important tool going forward. Therefore, anyone participating in the PPP, EIDL, or similar COVID-related economic relief programs should understand the scope of the government’s enforcement efforts.

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